WorksheetsIndustrialization
Total questions: 20
Worksheet time: 11mins
In the late 1800's, workers buying power generally increased because
factories often increased prices
factories often increased wages
prices fell faster than wages
wages increased faster than prices
Wages, shipping charges, and supplies are considered
fixed costs
laissez-faire
operating costs
air brakes
Iron Moulders' International Union, for example
industrial union
Pacific Railway Act
American Railway Union
trade union
Represented all workers in a particular industry
trade union
Karl Marx
industrial union
Pacific Railway Act
This began the railroad boom
air brakes
Pacific Railway Act
American Railway Union
Laissez-Faire
Loans, mortgages, and taxes are considered
operating costs
laissez-faire
automatic loom
fixed costs
Allowed cloth to be made more quickly
fixed costs
air brakes
automatic loom
laissez-faire
This enabled longer and heavier trains
operating costs
air brakes
fixed costs
laissez-faire
This saw capitalism as a struggle between workers and owners
trade union
industrial union
laissez-faire
Karl Marx
This was the belief that the government should not interfere in the economy
fixed costs
Pacific Railway Act
laissez-faire
operating costs
This collapsed after a strike
American Railway Union
Pacific Railway Act
Karl Marx
industrial union
Even before the invention of the automobile, petroleum was in high demand because it could
be made into plastics
be turned into kerosene
lubricate moving parts in a machine
power locomotives
Laissez-faire relies on ____________ to regulate prices and wages
supply and demand
businesses
government
the GNP
During the early days of industrialization, many members of Congress believed that tariffs were necessary to
entice European consumers to buy American goods
increase the prices Europeans paid for American products
protect new industries from foreign competition
entice American consumers to buy European goods
People who risk their own money to organize and run businesses are known as
capitalists
entrepreneurs
robber barons
investors
In the Crédit Mobilier scandal, Union Pacific investors got rich by
accepting bribes from business owners to route railroad tracks through their towns
achieving a monopoly in hauling freight along their railroads' tracks
conspiring with other railroads to set high prices
selling shares in the railroad at prices below market value
The total value of all goods and services that a country produces is its
distribution chain
economy of scale
gross national product
supply of natural resources
Issuing stock allows a corporation to raise large amount of money for big projects while
cutting prices to increase sales
decreasing fixed costs
lending money to investors
spreading out the financial risk
The American Federation of Labor pushed for closed shops, which meant that companies
could only hire union workers
could not try to prevent strikes
would agree to collective bargaining
would not hire African Americans
What is one advantage that big corporations had over small businesses?
Their products were more expensive
They could hire more workers
They had higher operating costs
They could produce goods more cheaply and efficiently
